Plug Power Inc. (NASDAQ:PLUG) Stake Lowered by Natixis Advisors LLC

Natixis Advisors LLC trimmed its holdings in Plug Power Inc. (NASDAQ:PLUG) by 7.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,234 shares of the electronics maker’s stock after selling 11,858 shares during the quarter. Natixis Advisors LLC’s holdings in Plug Power were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Independent Advisor Alliance bought a new position in Plug Power during the 4th quarter valued at $45,000. Mosley Wealth Management acquired a new stake in shares of Plug Power during the 1st quarter valued at $35,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Plug Power during the 1st quarter valued at $36,000. HighPoint Advisor Group LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at $48,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Plug Power during the 1st quarter valued at $37,000. 43.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PLUG shares. Canaccord Genuity Group reduced their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a report on Monday, August 12th. Truist Financial reduced their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a report on Monday, August 12th. Wells Fargo & Company reduced their price objective on Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reduced their price objective on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Finally, Piper Sandler reduced their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.19.

Plug Power Stock Up 1.0 %

NASDAQ PLUG opened at $1.96 on Friday. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $2.26 and its two-hundred day moving average is $2.75. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -0.82 and a beta of 1.79. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $8.80.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The firm’s revenue was down 44.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. Equities analysts forecast that Plug Power Inc. will post -1.15 earnings per share for the current fiscal year.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.